First off not everything in Southlake is $500,000 that is a bit of hyperbole. Second, Southlake is a very desirable area for many reasons, many of which I am sure that you already know. The rental market is very good in the area. What is your experience level with investment property, are you a seasoned pro or are you just getting started? If you are experienced, then you need to find the right home and you are off to the races. If you are new at this, as I recommend that you take a trip to your local bookstore and look for a book named "Hold" This book will give you a great amount of insight about purchasing and holding rental property. Rental property is great and can provide a wonderful stream of income if you think about it strategically. If you have additional questions or if I can be of any assistance please feel free to contact me directly.
Keller Williams Realty
It all depends on your business model.
Most investors like lower priced homes....so that is the trick in Southlake....where I often tell customers it takes $500,000 to get started in Southlake.
Houses do rent all year long...people move all the time....but my thought is that for most rental housing Southlake is very school driven.....so for most investors the model of buy and hold at $500,000 and above for a single family home, could mean sitting on it for 3-4-5 months vacant. That's a lot of mortgage to pay....without income.
Here is a link to some of the lower priced homes in Southlake.
Feel free to call me and let's talk about your strategy and see what works.
STAT'S Southlake over the past 12 months 9/12 - 9/16/2013
Active Listing : 11
Pending Contract : 5
Leased Homes: 104
Average Rental Amount Per Month $3478
Average Sq Ft of LEASED HOMES: 3,396
Average Rental Amount per Sq. Ft: $ 1.03
NOTE: I use to own investment properties at one time understand the mindset of the investor for turn the property into business with annual profits with annual tax deductions.
Southlake homes for sale Southlake TX
Southlake homes for rent Southlake TX
Contact my office today where I can show you many amazing homes work with your business plan specifications.
Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer
http://www.lynn911.com 100's of Dallas homes listed for sale or lease
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